Investment Advisory Agreement & Registered Office

FOR IMMEDIATE RELEASE

The Local Shopping REIT plc (the "Company")

Investment Advisory Agreement with Principal Real Estate Limited

and Change of Registered Office

27 November 2019

The Local Shopping REIT plc announces that the Investment Advisory Agreement (the "IAA") between the Company and Principal Real Estate Europe Limited ("Principal") expired on 24 November 2019. Under the terms of the IAA, Principal and the Company will cooperate for a period of thirty days to achieve an effective handover to the Company of the matters hitherto managed by Principal under the IAA.

The Company is accordingly to be regarded as being internally managed with effect from 25 November 2019.

In tandem with this, the Company's registered office, and that of its operating subsidiaries, has been transferred to:

Eastleigh Court

Bishopstrow

Warminster

BA12 9HW

ENDS

Enquiries:

The Local Shopping REIT plc

William A Heaney

Company Secretary

020 7355 8800